The race is on to hire qualified staff for blockchain-based industries

Posted by
Thuy Duong Phan

4 months ago

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VietNamNet Bridge - Blockchain technology has become more popular and used in many industries, driving up demand for staff.

A report shows that blockchain technology in Vietnam is used in many important business fields, including financial services (83 percent), supply chain (40 percent) and public services (30 percent).

Some experts predict that Vietnam will become a ‘blockchain hub’ in the region in the time to come. Many banks, auditing firms and insurers are also planning to apply blockchain technology.To implement the plans, the companies will need high numbers of qualified engineers. This has triggered a race to train and attract talent for blockchain-based industries. According to TopDev, over 100 technology firms and 5,000 developers in Vietnam are developing technology products on the blockchain platform. As it was very difficult to recruit Vietnamese IT engineers, foreign invested enterprises in the industry had to employ specialists from overseas, mostly from Russia, Ukraine and the US

In the second quarter of 2018, Navigos Search found many candidates for positions which offered VND100-300 million a month, mostly in the fields of finance & banking, production, tourism & hotels. Both Vietnamese and foreign candidates were wanted. Employers offered a salary of VND100-200 million for marketing directors. As it was very difficult to recruit Vietnamese IT engineers, foreign invested enterprises in the industry had to employ specialists from overseas, mostly from Russia, Ukraine and the US, though the offered pay was nearly the same for Vietnamese and foreign candidates ($2,000-3,000). Many international firms, big and small, want to make heavy investment in Vietnam’s blockchain market. At least 99 percent of the staff in Vietnamese blockchain technology firms are from the domestic IT sector.

Analysts have warned of the lack of qualified blockchain engineers if Vietnam cannot prepare for human resources development. The worker demand in the second quarter of 2018 continued to increase significantly in the blockchain-related sectors and other IT sectors. By the end of the second quarter, the number of IT jobs had increased by 74 percent compared with 2012, and 24 percent compared with the same period last year. It is expected that Vietnam will need 350,000 IT workers by 2021. At present, only 200,000 can satisfy the requirements.The northern market has seen recruitment demand rising sharply for IT engineers for the finance & banking sector and fintechs.

The enterprises in the fields want to build up internal staff to develop products in the digital technology race. Human resources developers all complain that it is difficult to find suitable candidates for managerial positions because of the requirements in meeting international standards. Many candidates have good management skills, but they are not fluent in English. This continues to be a weak point of Vietnamese mid-level officers.

Source: Vietnamnet (https://bit.ly/2MqQuDi)

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